Press release
Japan Smart Elevator Market to Grow at 9.1% CAGR Driven by IoT, AI Integration & Smart Building Initiatives
Japan Smart Elevator Market
As per DataM Intelligence research report "Global Smart Elevator Market is projected to grow at a CAGR of 9.1% from 2024 to 2031." Rapid urbanization, increasing high-rise construction, integration of IoT and AI for predictive maintenance, energy efficiency demands, and smart building initiatives are fueling the adoption of smart elevator systems worldwide.
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Japan: Recent Industry Developments
✅ In August 2025, Japanese elevator companies partnered with AI and IoT providers to advance predictive maintenance, traffic monitoring, and energy optimization features in smart elevators.
✅ In Spring 2025, Fujitec Co., Ltd. launched the new standard elevator model "Ele Glance," featuring smart design themes, enhanced customization, and integration capabilities for modern buildings.
✅ In 2025, Nippon Otis Elevator Company supplied advanced smart elevators, including Gen2® Premier models, to major projects like Tokyo's Azabudai Hills, emphasizing real-time monitoring and efficiency.
United States: Recent Industry Developments
✅ In April 2025, Schindler Elevator Corporation launched the Schindler 5000, a machine-room-less smart elevator optimized for low- to mid-rise buildings with advanced connectivity and energy-efficient features.
✅ In 2025, Major U.S. infrastructure investments and smart city projects drove adoption of IoT-enabled smart elevators for predictive maintenance and enhanced user safety in commercial and residential developments.
✅ In 2025, Otis Worldwide expanded its Gen3 series with smart connectivity, supporting modernization efforts and integration in growing urban high-rises across the U.S.
Smart Elevator Market: Drivers
The smart elevator market is driven by rapid urbanization and the surge in high-rise building construction requiring efficient vertical transportation. Integration of IoT, AI, and cloud technologies enables predictive maintenance, reduced downtime, and optimized energy consumption. Growing demand for touchless controls, biometric security, and seamless building management system integration enhances user experience and safety.
Another driver is the focus on sustainability and energy efficiency in green buildings, supported by regulatory standards. Modernization of aging elevator infrastructure in developed regions, rising smart city projects, and increasing investments in commercial and residential sectors sustain market growth.
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Smart Elevator Market: Major Players
Schneider Electric, Honeywell International Inc., Otis Elevator Company, Siemens Building Technologies, Mitsubishi Electric Corporation, Hyundai Elevator Co. Ltd., KONE Elevators Co. Ltd., ThyssenKrupp Elevator, Bosch Security Systems, Hitachi Ltd.
Segment Covered in the Smart Elevator Market:
By Component
The market is segmented into Maintenance System, Control System, and Communication System. Control Systems dominate due to advancements in destination dispatch, access control, and AI-driven optimization.
By Solution
The market includes New Deployment and Modernization. Modernization holds significant share amid upgrades of existing infrastructure with smart features.
By Application
Applications comprise Industrial, Institutional, Residential, and Commercial. Commercial leads with high demand in offices, malls, and hotels for traffic management and security.
Regional Analysis
North America - Largest Share
North America holds the largest market share, driven by advanced infrastructure, high adoption of smart technologies, and modernization projects in the U.S. and Canada.
Asia Pacific - Fastest-Growing
Asia Pacific is the fastest-growing region, fueled by rapid urbanization, high-rise developments, and smart city initiatives in countries like China, India, and Japan.
Europe - Significant Share
Europe grows with emphasis on energy efficiency and regulatory compliance.
Latin America - Gradual Growth
Latin America shows steady adoption in urban developments.
Middle East & Africa - Emerging Growth
Middle East & Africa expands with infrastructure investments and smart building projects.
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